NBS Report Reveals Food Prices Increased In December 2022

The National Bureau of Statistics (NBS said prices of selected food items increased in December 2022.

This is according to the NBS Selected Food Prices Watch Report for December 2022, released in Abuja on Friday.

The report said that the average price of 1kg beef boneless on a year-on-year basis, increased by 28.75 per cent from N1,846.39 recorded in December 2021 to N2,377.29 in December 2022.

18.45 per cent from N494.83 in December 2021.

“On a month-on-month basis, one tuber of yam increased by 1.31 per cent from N578.55 recorded in November 2022. ”

Similarly, it said the average price of 1kg of onion bulb rose by 25.64 per cent on a year-on-year basis from N346.96 in December 2021 to N435.93 in December 2022.

“While on a month-on-month basis, the price rose by 2.40 per cent from N425.71 recorded in November 2022.”

The report said at the state level, the highest average price of rice (local, sold loose) was recorded in Rivers at N655.92, while the lowest price was recorded in Jigawa at N386.01.

It said Cross River recorded the highest average price of 1kg onion bulb at N1,013.96, while the lowest was reported in Kogi with N198.12.

The report said Ebonyi recorded the highest average price of beans (brown, sold loose) at N901.74, while the lowest was recorded in Kebbi state at N368.56.

Also, the report said Imo recorded the highest price of Vegetable oil (1 bottle) at N1,597.22 while Benue recorded the lowest price at N702.78.

It said Akwa Ibom recorded the highest average price of a tuber of yam at N850.23 while Benue recorded the lowest price at N180.76.

Analysis by zone showed that the average price of 1kg beef boneless was higher in the South-East and South-South at N2,936.49 and N2,647.59, respectively.

“While the lowest price of the item was recorded in the North-East at N1,989.86”

The report said the South-South recorded the highest average price of 1kg rice (local, sold loose) at N564.34 followed by the South-West at N528.36, while the lowest price was recorded in the North-West at N447.05.

Also, it said the North-West recorded the highest average price of Palm oil (1 bottle) at N1,161.44, followed by the South-East at N1,142.67, while the North-Central recorded the lowest price at N792.69.